Universal Life Insurance, a multinational life insurance business based in Canada, is now offering $3,000 life insurance policyholders the chance to make a donation to the global anti-poverty charity Pacific Life.
“We’re going to give them $3 million and put it in a safe haven for them in a way that they can access that when they die,” said Stephen Sommers, Universal Life’s senior vice president of corporate affairs.
“The policyholder will not be asked to donate, they’ll be asked if they’d like to donate.”
In addition to the $3.7 million, Sommer said Pacific Life will also receive $2.3 million from Universal Life to help offset the cost of the policyholder’s funeral.
Sommes said the policyholders’ contribution is just a small piece of the company’s commitment to support global poverty eradication.
“As a corporate citizen of Universal Life, we are focused on ensuring that everyone can access a life insurance product,” he said.
They will not feel compelled to give a dime of their money to help with the costs of their funeral. “
This policyholder is a beneficiary of a $3 billion life insurance program.
We want to ensure that they have the opportunity to contribute and have the funds that they need to help the world and the future generations that will come after them.” “
They will not see that $3million in their pocket.
We want to ensure that they have the opportunity to contribute and have the funds that they need to help the world and the future generations that will come after them.”
In a statement to CBC News, Pacific Life said it has already received more than $1 million in donations to Pacific Life since its launch in 2017.
The organization said it’s not concerned about political considerations with the policy, which has been endorsed by the Catholic Church.
“Universal Life is committed to the protection of the poor and working people of the world, which is why we are not opposed to policies that address the needs of those who are vulnerable, such as the poorest and most vulnerable, the most vulnerable in our society,” the statement read.
The policy also says that the policy is not for sale.
“If you feel that the financial risk of this policy is too great to be offered to you, please contact us directly at [email protected],” the policy said.